Fund News and Alerts

Fee simple absolute title is usually described as “the full bundle of sticks.” Often, in a commercial transaction, the seller does not have the full bundle of sticks to convey. Typically, at least one tenant has the stick of possession via a lease. A purchaser or lender typically requires estoppel letters from every tenant and the landlord in order to determine the status of their rights and obligations under existing leases.

This article covers both Florida and federal cases involving homestead, Florida’s “legal chameleon,” for 2020. This article provides a brief overview of the homestead provisions of the Florida Constitution and a discussion of the relevant case law from 2020.  Read the article.

By: Michael Rothman, Esq.

I heard from my favorite uncle last week. He’s found a property in Deerfield Beach, Florida, just up the road from where I am, and is ready to submit an offer to purchase. For the past 30 years, he and my aunt have lived the rent-stabilized lifestyles of Upper East Side New Yorkers and are finally ready to retire to Florida.  My uncle went on and on about having his own study and a “real” backyard to grill for friends, which I found strange because my uncle doesn’t know a soul in Deerfield Beach and tends to study nothing more than baseball box scores. I didn’t have the heart to tell him that the south Florida barbeque season lasts about six weekends, what with the afternoon thunderstorms, oppressive humidity and the terror-inducing mosquitos. He’d learn soon enough.

By: Tony Lavargna, Esq., Lavargna Law, PLLC, Stuart, and a Member of The Fund

Probate can be a deadly word for real estate closings, but it doesn’t have to be. There are some initial aspects of Probate that we can help navigate for our clients to make sure that a real estate deal stays on course.

By: Jared Gaylord, Esq., of Marc. R. Gaylord, P.A., Hobe Sound, FL and a Member of The Fund

Unfortunately, COVID-19 is here to stay. The global pandemic has touched every aspect of American life. Real estate closings have not been spared. It is imperative to understand how the coronavirus can impact a real estate transaction to adequately protect yourself and your clients.

By: Jordan Lulich, Esquire at Lulich Attorneys & Consultants and Member of The Fund

Don’t judge a book by its cover. While for many, digital real estate closings seem like a daunting service to offer, I’m here to tell you that it’s quite simpler than you think. 

By Charles D. Nostra, The Fund

As we discussed a few months ago Property Assessed Clean Energy (PACE) loans, which are used to make certain qualifying energy efficiency and hurricane hardening improvements to commercial and residential properties, are increasing in popularity but unfortunately many buyers and sellers do not understand how they work and how they can complicate the real estate closing process.  Here is what you, as a real estate professional, need to know about this increasingly popular financial product.

By Michael Rothman, Esq., The Fund’s Legal Education Manager 

Every real estate professional involved in a transaction with an out-of-town seller can relate to the dread of opening a FedEx envelope supposedly containing the fully executed deed, only to find that the seller signed in the wrong place, there are no witnesses, and the notary’s commission expired last month. Or, of the seller traveling abroad who missed her appointment at the local embassy, only to be told that the next available appointment won’t be for three weeks. Thankfully, with the advent of RON, the stressful days of “mailaway closings” may soon be a thing of the past.

By Michael Rothman, Esq., The Fund’s Legal Education Manager

Every real estate professional involved in a transaction with an out-of-town seller can relate to the dread of opening a FedEx envelope supposedly containing the fully executed deed, only to find that the seller signed in the wrong place, there are no witnesses, and the notary’s commission expired last month. Or, of the seller traveling abroad who missed her appointment at the local embassy, only to be told that the next available appointment won’t be for three weeks. Thankfully, with the advent of RON, the stressful days of “mailaway closings” may soon be a thing of the past.

By: Sebastian Jaramillo, Partner at Wolfe Pincavage LLP and Member of The Fund

Even though we are in the business of getting transactions closed and funded; on occasion, the deal falls through and we are left with the question of how to deal with the funds held in escrow.